• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Foreign Affairs

ArcelorMittal sells the USA branch to Cleveland-Cliffs

28th September 2020

ArcelorMittal sells the USA branch to Cleveland-Cliffs Pin It

ArcelorMittal Steel Group sells its part of ArcelorMittal USA to the American iron ore producer Cleveland-Cliffs. The deal has a value of 1.4 billion dollars and is paid in shares and cash.

Cleveland-Cliffs acquired, inter alia, six steelworks and eight finishing facilities and coal and mining activities throughout the United States. ArcelorMittal’s various collaborations, including the Japanese Nippon Steel, are also in progress.

ArcelorMittal USA also has a company value of USD 3.3 billion, including debt and pension liabilities. ArcelorMittal continues to provide services to its customers through Canada and Mexico. AM / NS Calvert, the collaboration of ArcelorMittal with Nippon Steel in Alabama, is not in any other hands. Furthermore, the company’s innovation centres are not sold.

Last year, ArcelorMittal USA had a turnover of $ 9.9 billion. The transaction is likely to be concluded in the fourth quarter. In conjunction with the sale, ArcelorMittal, the largest steel group in the world, begins a stock purchase program of USD 500 million.

The buyer, Cleveland-Cliffs, was founded in 1847. The group supplies raw materials to the steel industry, but also produces steel products. Last year, steel producer AK Steel took over for just over a billion dollars. Cleveland-Cliffs has its headquarters in Cleveland, Ohio. There are about 11,000 people working for the company in the United States and Canada.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

Free trade agreement with…

In Domestic Affairs

Free trade agreement with Europe is a must for Boris Johnson

View Post

Next Post

Catalan head of government disbarred,…

In Foreign Affairs

Catalan head of government disbarred, fear of new violent protests

View Post

In Money Matters

Moody’s expects lower bounceback for Eurozone and Britain

View Post

In Money Matters

EU zone economic confidence reaches 93.4 with the reasons for euphoria still to uncover

View Post

In Money Matters

IAG advocates the digital ‘testing and vaccination passports’ for passengers

View Post

In Money Matters

Flat opening on Friday US markets

View Post

Newsletter

Latest News

View

The newly formed Stellantis counts on strong growth in sales

3rd March 2021

View

Rio Tinto chairman has left the company amid the ‘sacred cave’ destruction

3rd March 2021

View

In January 2021 Germany exported 30 percent less to the United Kingdom

2nd March 2021

View

COVID-19 made HelloFresh turnout skyrocket

2nd March 2021

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com
  • Runch.co.uk

Sign Up for Our Newsletter

Our friendly crew

  • Matthew Patridge, the chief Editor
  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]